Bionano Genomics, Inc. (NASDAQ:BNGO) Sees Significant Growth in Short Interest

Bionano Genomics, Inc. (NASDAQ:BNGO) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totalling 5,250,000 shares, an increase of 11.9% from the May 31st total of 4,690,000 shares. Approximately 7.7% of the shares of the stock are sold short. Based on an average daily volume of 1,310,000 shares, the days-to-cover ratio is presently 4.0 days.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Carret Asset Management LLC bought a new stake in Bionano Genomics in the 4th quarter valued at about $34,000. Virtu Financial LLC bought a new stake in Bionano Genomics in the 1st quarter valued at about $36,000. Headlands Technologies LLC bought a new stake in Bionano Genomics in the 4th quarter valued at about $72,000. Price T Rowe Associates Inc. MD boosted its stake in Bionano Genomics by 123.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 70,370 shares of the company’s stock valued at $79,000 after purchasing an additional 38,900 shares during the last quarter. Finally, Cantor Fitzgerald L. P. boosted its stake in Bionano Genomics by 22.2% during the 4th quarter. Cantor Fitzgerald L. P. now owns 55,000 shares of the company’s stock valued at $104,000 after purchasing an additional 10,000 shares during the last quarter. 11.35% of the stock is owned by institutional investors.

Bionano Genomics Trading Down 2.6 %

NASDAQ:BNGO traded down $0.02 during trading hours on Monday, hitting $0.66. 750,693 shares of the company were exchanged, compared to its average volume of 1,456,103. The company has a fifty day simple moving average of $0.90 and a 200 day simple moving average of $1.14. Bionano Genomics has a one year low of $0.62 and a one year high of $6.76. The company has a current ratio of 1.46, a quick ratio of 1.13 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $44.17 million, a price-to-earnings ratio of -0.11 and a beta of 2.33.

Bionano Genomics (NASDAQ:BNGO) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.60) earnings per share for the quarter. Bionano Genomics had a negative return on equity of 129.31% and a negative net margin of 605.26%. The business had revenue of $8.77 million during the quarter. Sell-side analysts expect that Bionano Genomics will post -1.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BNGO shares. BTIG Research reduced their target price on Bionano Genomics from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Scotiabank cut their price objective on Bionano Genomics from $7.00 to $6.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 7th.

About Bionano Genomics

Bionano Genomics, Inc provides genome analysis software that enables genomics labs to analyze and interpret data across a range of platforms to generate informative data visualizations for streamlined and simple reporting of causal variants. It offers Saphyr, a sample-to-result solution for structural variation analysis by optical genome mapping for genome analysis and understanding of genetic variation and function; Saphyr instrument, a single-molecule imager; Saphyr Chip, a consumable that packages the nanochannel arrays for DNA linearization; and Bionano Prep Kits and DNA labeling kits, which provide the reagents and protocols for extracting and labeling ultra-high molecular weight DNA.